11-Year Group Financial Summary <strong>2002</strong> 2001 2000 1999 (Figures in millions of Singapore dollars) Net Profit After Tax + * 1,064.2 924.6 912.9 760.2 Dividends** 720.4 ++ 425.6 316.3 416.1 ## Cash, placements, balances with bankers and agents, including government treasury bills and securities* 33,853.7 39,285.5 31,221.7 24,681.1 Investments, including associates + * 5,219.7 5,212.4 2,016.6 1,681.2 Loans (advances & trade bills) 58,884.0 60,892.1 30,045.3 27,259.1 Fixed and other assets* 5,846.0 4,721.4 3,040.5 3,152.5 Goodwill 3,666.0 3,776.7 – – Total Assets 107,469.4 113,888.1 66,324.1 56,773.9 Represented by: Deposits 87,220.6 92,545.5 56,836.9 47,207.0 Bills and drafts payable, and other liabilities* 5,449.4 4,468.6 2,519.0 3,375.9 Debentures, certificates of deposit, unsecured loan stock and bonds – – – – Debts issued 2,146.8 4,157.2 – – Shareholders’ funds + * 12,652.6 12,716.8 6,968.2 6,191.0 Total Liabilities and Shareholders’ Funds 107,469.4 113,888.1 66,324.1 56,773.9 (Figures in millions of <strong>United</strong> States dollars) Net Profit After Tax + * 613.1 499.5 527.1 456.2 Dividends** 415.0 ++ 229.9 182.7 249.7 ## Cash, placements, balances with bankers and agents, including government treasury bills and securities* 19,502.1 21,223.9 18,026.4 14,810.1 Investments, including associates + * 3,006.9 2,816.0 1,164.3 1,008.8 Loans (advances & trade bills) 33,921.3 32,896.9 17,347.2 16,357.1 Fixed and other assets* 3,367.7 2,550.7 1,755.5 1,891.7 Goodwill 2,111.9 2,040.4 – – Total Assets 61,909.9 61,527.9 38,293.4 34,067.7 Represented by: Deposits 50,245.2 49,997.6 32,815.8 28,327.0 Bills and drafts payable, and other liabilities* 3,139.2 2,414.2 1,454.4 2,025.7 Debentures, certificates of deposit, unsecured loan stock and bonds – – – – Debts issued 1,236.7 2,245.9 – – Shareholders’ funds + * 7,288.8 6,870.2 4,023.2 3,715.0 Total Liabilities and Shareholders’ Funds 61,909.9 61,527.9 38,293.4 34,067.7 Exchange Conversion of US$1.00 S$1.7359 S$1.8510 S$1.7320 S$1.6665 * Figures/balances prior to 2000 do not take into account the impact of adopting Singapore Statement of Accounting Standard (SAS) 10: Events After Balance Sheet Date. Figures/balances prior to 2001 do not take into account the impact of adopting revised SAS 12: Income Taxes and Interpretation of SAS (INT) 5: Consolidation – Special Purpose Entities. + Figures/balances prior to 1998 do not take into account the effects of equity accounting. # Excludes extraordinary item of $31,207,000 (US$21,367,000). ** Based on total interim dividend paid and proposed final dividend during the year. ++ Includes interim dividend of 18.76% less 22% income tax amounting to $230,020,000 (US$132,508,000), paid in specie of shares in Haw Par Corporation Limited. ## Includes special tax exempt bonus dividend of 25% amounting to $262,966,000 (US$157,795,000). *** Includes special tax exempt bonus dividend of 22% amounting to $164,768,000 (US$112,816,000). +++ Includes special bonus dividend of 10% less 27% income tax amounting to $48,406,000 (US$30,094,000). 170
1998 1997 1996 1995 1994 1993 1992 (Figures in millions of Singapore dollars) 331.7 502.0 715.5 632.7 570.1 # 456.6 300.8 132.5 132.5 123.8 123.1 262.9*** 131.2 +++ 74.2 19,608.9 16,306.6 14,908.1 13,743.8 13,337.3 11,870.1 10,963.6 1,573.8 1,131.6 1,268.4 1,071.3 891.2 853.6 713.4 27,653.4 29,769.8 27,459.3 23,758.4 21,379.6 18,469.5 14,717.7 1,953.1 2,153.6 2,171.0 1,991.9 1,743.3 3,028.9 1,481.0 – – – – – – – 50,789.2 49,361.6 45,806.8 40,565.4 37,351.4 34,222.1 27,875.7 42,597.7 41,587.8 38,218.8 33,758.6 31,255.2 27,654.7 23,063.2 2,313.0 2,446.7 2,481.9 2,385.6 2,218.7 3,154.6 1,788.2 – – 199.5 197.8 196.2 372.3 371.0 – – – – – – – 5,878.5 5,327.1 4,906.6 4,223.4 3,681.3 3,040.5 2,653.3 50,789.2 49,361.6 45,806.8 40,565.4 37,351.4 34,222.1 27,875.7 (Figures in millions of <strong>United</strong> States dollars) 199.8 299.4 511.3 447.0 390.4 # 283.9 183.2 79.8 79.0 88.5 87.0 180.0*** 81.5 +++ 45.2 11,809.0 9,726.6 10,652.4 9,709.5 9,132.0 7,379.6 6,677.0 947.8 675.0 906.3 756.9 610.2 530.7 434.4 16,653.7 17,757.1 19,620.8 16,784.4 14,638.6 11,482.4 8,963.3 1,176.2 1,284.6 1,551.3 1,407.2 1,193.6 1,883.1 902.0 – – – – – – – 30,586.7 29,443.3 32,730.8 28,658.0 25,574.4 21,275.8 16,976.7 25,653.5 24,806.3 27,308.8 23,849.2 21,400.3 17,192.9 14,045.8 1,393.0 1,459.5 1,773.4 1,685.3 1,519.1 1,961.2 1,089.0 – – 142.6 139.8 134.4 231.5 226.0 – – – – – – – 3,540.2 3,177.5 3,506.0 2,983.7 2,520.6 1,890.2 1,615.9 30,586.7 29,443.3 32,730.8 28,658.0 25,574.4 21,275.8 16,976.7 S$1.6605 S$1.6765 S$1.3995 S$1.4155 S$1.4605 S$1.6085 S$1.6420 UNITED OVERSEAS BANK 171
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ANNUAL REPORT 2002 United for Growt
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Our Mission To be a premier bank in
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Performance in Brief Profit For The
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Profit growth was derived mainly fr
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Financial Highlights Group Assets 2
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Group Return On Average Shareholder
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Corporate Information Honorary Life
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Left to right: Koh Beng Seng, Ngiam
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Left to right: Tan Kok Quan, Prof L
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Mr Francis Lee Chin Yong Managing D
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The Bank has a budget for directors
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independent and non-executive direc
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work of each of the banking subsidi
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Risk Management Credit and Country
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The composition of loans and advanc
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Group Non-Performing Loans (NPLs) a
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Group NPLs and Cumulative Provision
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Group Specific Provision by Region
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Collateral Types The majority of th
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Exposure to the Five Regional Count
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Cross-Border Exposure to the Five R
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Complementing the static analysis i
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Sources of Deposits The Group has a
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The VaR calculations are performed
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Group Daily VaR Distribution for 20
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As part of the Group's comprehensiv
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The celebratory light-up linking UO
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services so as to meet the increasi
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Our subsidiary, UOB Asset Managemen
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Grow our services In line with the
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exercise, achieved well ahead of th
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processes in place that will suppor
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Group Financial Review Review of Fi
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Group Profits The Group achieved a
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Analysis of Changes in Net Interest
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Cost Savings from Integration The G
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Overview of Balance Sheet Assets Mi
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Gross Customer Loans Analysed by Cu
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Capital Adequacy Ratios The Capital
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Directors’ Report for the financi
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In addition, the following subsidia
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Arrangements to Enable Directors to
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Ability to Meet Obligations No cont
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Share Options of the Bank (a) From
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(d) (e) (f) No options have been gr
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Statement by Directors for the fina
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Income Statements for the financial
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The Group The Bank Note 2002 2001 2
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The Group 2001 Non- Share of Share
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The Bank 2001 Non- Share Share Dist
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Notes to the Financial Statements f
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(e) Investments (i) Singapore Gover
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(k) Derivative Financial Instrument
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4 Interest Expense The Group The Ba
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(c) Equity Compensation Benefits Op
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11 Directors’ Fees and Other Remu
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14 Tax (a) The tax charge to the in
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2002 2001 Fair Value of Depreciable
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Deferred tax assets and liabilities
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18 Non-Distributable Reserves (a) T
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